GM pep cars ?

[renovation]

have you ever bought a pep car .the advantages and disadvantages?

[mechmike0034]

Since most people here don't live in Michigan and aren't GM employees or relatives, they probably won't know what you're talking about.

Jeffbx will. I used to work for a contractor to GM so I didn't have access to PEP, Option 1, etc. Supplier Discount was all I could get...

http://www.pepcars.com/


PEP Car Eligibility
You must be a GM employee, GM employee's spouse, GM employee's child (25 years of age or under and still living at home). To purchase a PEP Vehicle.

You must be at least a level eight working for GM to qualify for a "Drive and Buy" PEP vehicle.

"level eight" rank at GM requires a Master's Degree and is equivalent to a department head or white-collar supervisory management (if you're an eight, you're in charge of something and have rank-and-file reporting to you...)

[renovation]

see here what im unsure of on a pep .i have a way of getting one .but have to be held for 6 months and another persons name .i fully trust them and them me .but is there enough savings really to go though all this .i also can get a ford discount but there really not a ford out there that i want .sure the new mustang but no rear wheel cars for me any more until i move out of this frozen tundra know as michigan .

[InfiniteNothing]

What does PEP stand for? Is it just an inexpensive car?

[mechmike0034]

I stand corrected - see below. (this was a glitched post)

[mechmike0034]

I think it is "Personnel Evaluation Program", but I am not sure. Back in the day, these were referred to as "brass hat" cars.

If you're a level eight and get a company car, you can pick one you like (some restrictions apply) and then buy or lease it at an employee-only price after driving it as your company car a certain number of miles and a certain length of time. This used to be 90 days (yes, you got a new company car every 90 days) but the cost of licensing in many states now means that most of the GM employees I know that get company cars keep them for a year.

If you're a GM Employee or eligible family member, you can still buy or lease these cars at an employee-only price after they have been taken out of company service.

There are other rules and restrictions. If you buy a PEP car you must keep it in your name for six months (no "flipping" cars for a profit) and I believe you are limited to one or two a year.

[renovation]

you are limited to 2 cars a year for a pep car!
see the wife and i been talking (suprize). and were thinking its time to add another auto to are collection .or swap out my pickup. the thing is were also looking at becoming snow birds and spending 6 months in florida and 6 months in michigan .and right now i drive my pickup as my work truck and personal car. and in 2-3 years i may not need a work truck .so we might as well just baby my pickup till then. I only put 10-15,000 miles a year on it at most .and it has 110,000 on it now. its also payed off .and to spend $25-$35,0000 for a new work truck to use for 2 years seems like a big waste .knowing in 2-3 years it maybe worth $7-$10,000 ya im ruff on a truck. once i have owned it you don't want it. i beat the thing to death. this truck i have now has been used to remove mail boxs,pull pipes out of the ground,trees out of the way that were up rooted ,pull cars out of snow banks and from under damaged home to just name a couple.
so the thougt is for me to take her 2002 saturn vue with 60,000 miles on it. use it as my 2 car for estimating,small job. for her to get a new car. then in two to 3 years when we become snow birds. i sell my work truck whats left of it anyway. and leave one car here and one in florida. we know the game plan just not 100% sure of the time frame.

[Jeffbx]

Yeah, if you have access to a PEP car & you know who's driving it, you get a ridiculous discount on it. I haven't seen the discount sheet for a long time, but if I remember, it was anywhere from 15-40% off of MSRP depending on model, model year, number of miles & popularity of the car. Lease rates are crazy low too, but if you're going to be commuting between MI & FL, you'll want to purchase it.

I knew a guy who used to flip PEP cars every 6 months (that was the minimum you had to hold them after purchase). He would get a big SUV (which were really popular at the time), drive it for 6 months and then sell it to his buddy at a local dealership for the same price he paid for it originally. He went several years that I know of without paying anything out of pocket other than interest & some fees.

I was never GM direct so I was never able to nab a PEP car myself, but if you can get one you should - you'll never get a cheaper car anywhere else.